![]() That's because the standard mileage rate already factors in depreciation. ![]() You can't take this deduction if you've already deducted business drives, though. The vehicle depreciation deduction allows you to write off that value. Your business car declines in value over time due to wear and tear. What is the vehicle depreciation deduction? There are two ways to deduct vehicle depreciation.Rules apply to vehicles that qualify as "passenger vehicles".Vehicle depreciation has special rules compared to other business equipment.You must use the actual expense method for vehicle depreciation.We'll dive into the specifics below, but the key takeaways are: What you need to know about the business vehicle depreciation deduction Let's go over some of the basics you should know about vehicle depreciation. ![]() You can use the depreciation if you use the actual expense method. The business vehicle depreciation deduction for your work car can lead to some significant tax savings. ![]()
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